I'm not sure what the threshold for 2009 is but it was $155 million in 2009. Right now I think only the Yankees are going to have to pay the luxury tax this year. Their opening day payroll was over $200 million with the Mets being the next closest team with just under $150 million opening day payroll.

The cap on spending before the luxury tax (officially called the Competitive Balance Tax) kicks in changes during each season of the current collective bargaining agreement. The amounts for the next several seasons are:

2007 - $148m2008 - $155m2009 - $162m2010 - $170m2011 - $178m

A team that goes over the luxury tax cap for the first time would pay a penalty of 17.5% of the amount they were over that cap. Second-time violators would pay 30%, and those doing it beyond a second time would be taxed at 40%.